The Workers’ Compensation Insurance Rating Bureau of California released its 2022 WCIRB Geo Study, which underscores regional differences in claim characteristics across California.
Munich Re said on Thursday it expected to receive claims for canceled or postponed events because of the coronavirus crisis in excess of 1 billion euros ($1.08 billion) this year after it posted a 65% drop in first-quarter profit.
The German reinsurer, which joins a raft of insurers warning of threats to their business, had already said it would not meet a profit target this year.
People affected by wildfires in Northern California in 2017 and 2018 can soon file claims for housing assistance and other immediate needs with Pacific Gas & Electric Co.
They can file their claims online through the website for the utility’s wildfire assistance program as early as this week.
A Northern California utility received 146 demands for reimbursement from customers who say Pacific Gas & Electric Company’s controversial decision to cut power to prevent wildfires hurt them economically.
The utility said Wednesday in a report to California regulators that it won’t pay any claims. PG&E shut power to 60,000 Northern California customers from Oct. 14 to Oct. 16 after it determined that forecast sustained winds of 25 mph gusting to 45 mph threatened to bring down power lines and start wildfires. It was the first time PG&E cut power to prevent wildfires.
